Guide

Protect your business against crime

Preventing identity theft and fraud

Identity theft and fraud is an increasing risk for businesses, particularly those that carry out any part of their business online.

The target of a fraud may be an individual within the business or the business itself. Criminals use a wide range of methods and approaches to commit their crimes. The aim is usually to steal sufficient information to assume the identity of the person or business with the aim of obtaining goods, services or credit fraudulently.

One of the most common methods of stealing your corporate identity is through your IT system. Fraudsters may use 'malware' to access usernames, passwords or bank details. Another method is the use of phishing websites which use keystroke logging software to record your keyboard strokes as a way of stealing financial details.

Minimise the risk of identity theft and fraud

To prevent IT fraud your business should implement anti-virus software and firewalls. You should also introduce internet and email policies to reduce the risk of employees inadvertently disclosing sensitive information. SeeĀ IT security.

Another scam involves fraudsters stealing your entire corporate identity. Fraudsters attempt to do this by changing the information your business has registered with Companies House. Find out how you can protect your company from coporate identity theft.

You can help prevent identity fraud by safely destroying secure information. When you need to destroy information in paper or electronic formats, make sure that you use reputable suppliers that comply with European standards, particularly EN 15713.